Marketplace: Wednesday, June 16, 2004

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A look at today's markets (closing numbers)
DOW .85 (.01%) ; NASDAQ 2.63 (.13%) ; S&P 500 1.55 (.14%)

Newscast It's been decades since a new oil refinery was built in the U.S. But on this June 16th, the U.S. House passed legislation that would streamline federal regulations--and, some say, clear the way for reopening and building refineries. Weekly unemployment claims come out tomorrow. It will be interesting to see what they do - if anything - to John Kerry's message as he takes on President Bush over the economy this week and next. In April and May, the rate of new hiring was encouraging, and wage pressures and rising consumer prices appeared tame. That today from the Federal reserve. In its anecdotal accounting of the state of the nation's economy, the so-called "Beige Book", the Fed concludes the economy's expanding across the nation. Listen to all newscast items

Features Iraq is Losing Oil Cash After a bomb attack on a key oil pipeline in Iraq two days ago, engineers had diverted shipments to another pipeline to keep crude flowing into the port city of Basra. Today, saboteurs struck that makeshift economic lifeline--effectively cutting off oil exports from Iraq. In a conversation with Marketplace, Interim Prime Minister Iyad Alawi figures the damage so far has cost his country $200 million in badly needed revenue... Q + A: .... with Iyad Alawi Related Story: More insurgent attacks, as coalition shifts Iraq focus Johnny on the Spot - Texas is the Reason Support Marketplace: Purchase this music from Public Radio MusicSource Faking It to Stay Alive To avoid becoming a target, many foreigners in Iraq are trying to disguise their identities. Contractors hauling military equipment wear civilian clothes and drive commercial trucks and security guards use Russian-made weapons. Reporter: Borzou Daragahi Related Story: Iraq Guerrillas Assassinate Oil Official Ghazi Talabani, Attack Foreign Contractors, Choke Oil Exports Sif Safaa - Mohammed Mounir Support Marketplace: Purchase this music from Public Radio MusicSource Drug Pricing Tomorrow's New England Journal of Medicine is set to report a breakthrough - a new drug that treats rheumatoid arthritis by knocking out a certain type of immune cell. It could open the door for a wave of precisely targeted 'smart drugs'. The expense that goes into the development of new therapies has long been cited as a primary reason drug prices are so high. One way consumers have been fighting against rising costs is by pooling their money and buying in bulk. But our commentator finds it odd that a player with the most buying power of all - hasn't jumped on the bandwagon. Commentator: Robert Reich Related Story: Cancer Weapons, Out of Reach Know Now Then - Ani Difranco Support Marketplace: Purchase this music from Public Radio MusicSource I am the NRA... Are you Listening? Let's see: Fox has a lock on "fair and balanced"..."All the news that's fit to..."...no...someone else has that. Guess we'll have to tune in tomorrow to hear how the National Rifle Association plans to position its new three-hour radio show. After a few practice rounds broadcasting on TV and the web, the NRA is set to deliver the news from its own perspective. Some election observers think this could be the first shot in a new campaign finance battle. Reporter: Rachel Dornhelm Related Story: NRA to debut pro-gun radio show, challenging U.S. limits Use Your Brain - The Dirty Dozen Brass Band This Doctor Makes House, I mean, E-Calls ... More of us are banking on line. According to a study released today, 22 million Americans logged on to their bank accounts in March. About 30% more than a year earlier. Most of us are just checking balances - although more people are using the web to pay bills and mortgages. With the exception of, say, visiting the doctor, seems like just about everything's available online. Perhaps, even that doctor's visit. Reporter: David Welch Related Story: See doctor, then go online Practice What You Preach - Soul Sliders Support Marketplace: Purchase this music from Public Radio MusicSource Consumers Have Rights, Too ... You can sure make money with the click of a button. Credit card companies do it all the time. Late bill? Click. Ouch. But fingers can be button happy, and businesses can make mistakes. And who's left sorting it out? Commentator: Jamie Court Related Story: Survey: 2 million bank accounts robbed

Coming up on Marketplace... Flying high at the Paris Air Show ...